Grohe, a German bathroom-fittings maker, has attracted bidding
interest from several rivals, the Reuters news agency said Friday
on its website, citing three unnamed sources with knowledge of the
process.
The interested bidders were asked to submit tentative offers by
the end of next week, the people were quoted as saying in the
report. Grohe could be valued at up to EUR4 billion ($5 billion),
the report said.
Grohe has drawn interest from a Swiss peer, Geberit AG
(GEBN.VX), as well as from Siam Cement PCL (SCC.TH), two of the
sources said in the report. A third source told Reuters that
U.S.-based Fortune Brands Home (FBHS) has expressed interest in
Grohe in the past but hasn't been in active pursuit lately.
"Grohe continues to evaluate all strategic options," a spokesman
for the company was quoted as saying in the report.
Grohe is owned by TPG Capital and the private-equity arm of
Credit Suisse Group (CSGN.VX).
Full story:
http://www.reuters.com/article/2013/07/11/us-grohe-sale-idUSBRE96A0RK20130711
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